The hospitality giant has signed an agreement with RIVA Development Company that could see the opening of up to 12 new hotels across the Kingdom.
IHG currently operates a total of 38 hotels across five brands in Saudi Arabia, the group has plans to open a further 20 hotels which are currently under development and will open within the next three to five years. The agreement with RIVA Development Company will include a five-year agreement to add to IHG’s portfolio across key brands in cities such as Riyadh, Jeddah, Easter Province, Abha, Hail, Qassim and Tabuk.
The majority of the hotels under the agreement are expected to be greenfield projects, and the deal also includes the potential to expand the partnership for a further five years to develop an additional 12 hotels.
Haitham Matter, Managing Director, India, Middle East & Africa, commented: “We are excited to partner with RIVA Development Company as we strengthen our offering in Saudi Arabia. We have a strong legacy in the Kingdom and are committed to leveraging the growth opportunities that focus on aligning with Saudi’s Vision 2030.”
